Newspaper article The Journal (Newcastle, England)

North's Economy Outstrips the Rest

Newspaper article The Journal (Newcastle, England)

North's Economy Outstrips the Rest

Article excerpt

Byline: By Iain Laing

THE North-East economy has ended the third quarter of the year as the fastest growing in the UK, according to a respected report.

Orders appear to be rolling in faster for companies in the region, the number of jobs is increasing and backlogs of work have increased for the fifth month running, said the latest PMI Business Survey Data, produced for The Royal Bank of Scotland by NTC Economics.

The region may still lag behind most of the rest of the UK economically but it is showing signs of catching up with some of the strongest growth seen in years, it reported. The region showed the strongest growth in the UK according to the researchers Business Activity index.

Stuart Porteous, senior economist at The Royal Bank of Scotland, said: "The North-East economy looks in pretty good shape with output, new orders and recruitment continuing to grow rapidly.

"Not only was the North-East the fastest growing region in the UK in Q3, but the PMI index measured its fastest rate of expansion since the series began in 1997. …

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